Funko makes pop-culture collectibles—vinyl figures, plush, bags, and apparel—under licenses from movies, TV, and games, sold in stores and online. Think of them as the toy box for fandoms, turning beloved characters into shelf-ready merch.
Revenue came to USD 0.91B in 2025, with gross profit of USD 0.35B (38.68% margin), but operating income was negative at USD -0.05B. The business loses money overall, so no segment clearly pays the bills—collectibles sales are the main source, yet margins are t
Licensing deals with major studios and franchises give Funko exclusive rights to make figures, but these contracts are non-exclusive and can be lost to competitors like Hasbro or Mattel. The moat is weak because anyone can license the same IP, and Funko's bran
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